French based BNP Paribas Corporate and Investment Banking has reorganised its fixed income business, splitting it into four product lines across three regions with effect from 1 October 2013.
This decision was taken in order to adapt to market changes, including the increased use of electronic execution, greater access to markets and regulatory changes.
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The four new global product lines will include foreign exchange and local market, which will be headed by Guillaume Amblard, G10 rates headed by Arne Groes, Credit headed by Benjamin Jacquard, who will also join the fixed income executive committee and primary markets, which will be headed by Martin Egan.
Primary markets include origination, syndicate, primary derivatives and securitisation. Egan will remain UK head of fixed income and will also be responsible for the global co-ordination of the fixed income commercial strategies with corporate.
FX and Local Markets, G10 Rates and Credit will be organised along global product lines covering and each one of them will comprise strategists, specialist sales, trading and structuring.
From a geographic view, the bank will merge Europe, Africa and the Middle East activities into a single bloc, with Henri Foch becoming head of fixed income EMEA in addition to his role as deputy head of fixed income.
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By GlobalDataChristian and Kip Testwuide Mundigo will remain as co-director of the Americas and Bob Hawley Asia-Pacific. Rudi Collin will remain as the fixed income COO.
Frédéric Janbon, global head of fixed income said: "Our Fixed Income management structure has remained constant for quite a while.
"Significant market and regulatory changes, coupled with the impressive growth of our fixed income business mean that we too, need to adapt. In addition to helping us capture growth, we believe this organisation will improve resource allocation and shorten decision-making cycles, ultimately helping us to better serve our clients," he added.
